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Acorda Therapeutics, Inc., a biopharmaceutical company, identifies, develops, and commercializes novel therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), a potassium channel blocker to improve walking in patients with multiple sclerosis (MS); Zanaflex Capsules and Zanaflex tablets for the management of spasticity, a symptom of central nervous system disorders; and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia. The company also markets Ampyra as Fampyra in Europe, Asia, and the Americas. It is also involved in developing CVT-301, which is in Phase III clinical trial for the treatment of OFF episodes in Parkinson’s disease; Dalfampridine that is in Phase III clinical trial for the treatment of chronic post-stroke deficits; Neuregulin Program, which is in Phase Ib clinical trial for the treatment of heart failure; CVT-427 that is in pre-clinical development for the treatment of migraines; Remyelinating Antibodies Program, which is in Phase I clinical trial for the treatment of MS; and Chondroitinase Program that is in research stage for the treatment of spinal cord injury, as well as developing Plumiaz, a proprietary nasal spray formulation of diazepam for the treatment of people with epilepsy. The company has a collaboration agreement with Biogen Idec International GmbH for the development and commercialization of products containing aminopyridines. The company was founded in 1995 and is headquartered in Ardsley, New York.

Acorda Therapeutics, Inc. Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Asset Impairment for the Fourth Quarter Ended December 31, 2014

Feb 12 15

Acorda Therapeutics, Inc. announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $0.3 million, or $0.01 per diluted share against net income in the same quarter of 2013 was $6.2 million, or $0.15 per diluted share a year ago. Non-GAAP net income was $19.7 million, or $0.46 per diluted share against non-GAAP net income of $18.9 million, or $0.45 per diluted share a year ago. Total Revenue was $117.872 million against $92.593 million a year ago. Operating income was $1.169 million against $12.749 million a year ago. Loss before income taxes was $2.693 million compared to income before income taxes of $12.630 million a year ago.
For the full year, the company reported net income of $17.7 million, or $0.42 per diluted share against net income for the full year 2013 was $16.4 million, or $0.39 per diluted share a year ago. Non-GAAP net income was $73.8 million, or $1.74 per diluted share against non-GAAP net income for the full year ended December 31, 2013 of $52.4 million, or $1.26 per diluted share. Total revenues were $401.480 million against $336.430 million a year ago. Operating income was $36.391 million against $30.365 million a year ago. Income before income taxes was $28.009 million compared to $28.863 million a year ago.
For the fourth quarter ended December 31, 2014. the company reported asset impairment of $6.991 million.

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